Sabancı Ventures Invests $800,000

Sabancı Ventures Invests USD 800,000 Sabancı Ventures, the Corporate Venture Capital Fund of Sabancı Holding, invested USD 800,000 in SunGreenH2, a hydrogen equipment manufacturer founded in 2020 in line with the Sabancı Group's sustainability and zero-emission targets. Sabancı Ventures was the highest investor in the USD 1.5 million investment round with USD 800,000. Singapore-based SunGreenH2 develops equipment that produces green hydrogen using sustainable energy sources and water, leveraging technology it has developed to transform conventional hydrogen production. With its proprietary electrolyzer technology, SunGreenH2 aims to produce green hydrogen in a more environmentally friendly, cost-effective and efficient manner compared to sector competitors. The startup, which aims to scale up mass production of green hydrogen at a global level and contributes significantly to companies' and countries' zero-emission targets, has its R&D center in Australia and was founded in 2020 by Tulika Raj and Saeid Masudy Panah. Green hydrogen with zero carbon emissions can today be used in many different areas, from mobility to industry and renewable energy, to reduce carbon footprint. Gökhan Eyigün, Head of Strategy and Business Development at Sabancı Holding, stated that they continue to accelerate their investments as Sabancı Group: "As Sabancı Group, we began transitioning to Turkey's first green hydrogen production last year. Now, our SunGreenH2 investment in this context presents us with an opportunity for early positioning in the green hydrogen market, which is expected to grow 120-fold by 2030 and reach USD 120 billion. This investment is also very important as it marks Sabancı Ventures' first venture capital investment in the Asia-Pacific region. With this investment, we have added another milestone to our global-scale investments on the path to becoming 'the world's Sabancı'. As Sabancı Group, we continue our investments focused on the 'new economy' and sustainability." Sabancı Ventures invested in a total of 5 companies last year: Zack.ai, Bulutistan, Albert Health, Figopara and Supply Chain Wizard. With this investment, the total number of startups in Sabancı Ventures' portfolio, which was established at the end of 2020, increased to 8.